Ryan Seacrest is in escrow to purchase Ellen DeGeneres’s Beverly Hills estate for $37 million, according to a person close to the transaction.

The property was listed last fall for $49 million but Ms. DeGeneres and her wife Portia de Rossi were quietly shopping it last year for $60 million.

The compound spans several acres in Los Angeles’s Coldwater Canyon and has a 9,200-square-foot main house and three guest houses. Ms. DeGeneres, the talk-show host, and Ms. De Rossi cobbled together the property from four separate parcels, which they have accumulated since 2007.

Outside, there’s a swimming pool, covered lounging and dining areas, and koi ponds. In 2008, Ms. DeGeneres and Ms. De Rossi were married at the home, which sits behind gates on its own street.

Mr. Seacrest, a radio and television personality, has been trying to sell his own Los Angeles home, which he bought from actor Kevin Costner in 2006. He first listed the Mediterranean villa in 2010 for $15 million but relisted it recently for $12 million.

Kurt Rappaport of Westside Estate Agency represented both Mr. Seacrest and Ms. DeGeneres in the deal.

About Speakeasy

Speakeasy is a blog covering media, entertainment, celebrity and the arts. The publication is produced by Barbara Chai and Jonathan Welsh with contributions from the Wall Street Journal staff and others. Write to us at speakeasy@wsj.com or follow us on Twitter at @WSJSpeakeasy or individually @barbarachai.